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government pretend that we have this thirty five percent corporate tax rate but in reality these too big to fail corporations they absolutely nothing and their profits are guaranteed and they can fail unlike main street who continue to has failed primarily since two thousand and seven and continues to fail as we speak today charlie does raising the debt ceiling for the average people that our social security tax. well you know the so security funds two point six trillion dollars in a lockbox right that's what we've been told since time immemorial the fact of the matter is that the people we take in over two trillion dollars a year we pay that much in income taxes right now we take in enough money to make our social security payments we don't take in enough money to keep funding special interest plain and simple and we don't take in enough money to keep this projection of empire america alive and well five military engagements around the planet you know corruption has run amok you know primarily since two thousand and eight it's been you know pedal to the floor so the idea that our presid
government pretend that we have this thirty five percent corporate tax rate but in reality these too big to fail corporations they absolutely nothing and their profits are guaranteed and they can fail unlike main street who continue to has failed primarily since two thousand and seven and continues to fail as we speak today charlie does raising the debt ceiling for the average people that our social security tax. well you know the so security funds two point six trillion dollars in a lockbox...
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program in the eighty's show many big events are decided and some of the big deals are made at the bahamian grove and so it is that secret smoky room but instead of a bunch of guys behind closed doors smoking cigars and making decisions with government officials it is a fifteen day retreat with music alcohol plays ritualistic behavior. and the moon then also leave the grove and go to the nearby town. visit with female prostitutes that are flown in from all over the world so that might be one reason there's such a. overtone in the whole thing is that it's only me i'm allowed inside the grove now because of the threats of lawsuits i'm going to show them women are a lot of preparation to work there. right i was going to get in here for a second i think that some of the stories who said that those instances i think a prostitute was interviewed this is a while back saying that that's more of the rarity are the exception herbert hoover though called it the greatest men party and that it was just a lot of returning gun so i and peter bergen who you confronted about it said that everything is very
program in the eighty's show many big events are decided and some of the big deals are made at the bahamian grove and so it is that secret smoky room but instead of a bunch of guys behind closed doors smoking cigars and making decisions with government officials it is a fifteen day retreat with music alcohol plays ritualistic behavior. and the moon then also leave the grove and go to the nearby town. visit with female prostitutes that are flown in from all over the world so that might be one...
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coming up today on the big picture. we'll. bring you the latest in science and technology from. the future of coverage. welcome back to the for stacy herbert you know we were talking about the fraudulent berlusconi the economist magazine a cover story just recently called the biggest jerk on europe i believe was the headline but continue please well we're on the topic of media tycoons who have destroyed democracy certainly in italy and now it turns out destroyed the economy but i want to turn to murdoch everybody's covering the story of course but he is a media tycoon has who has destroyed democracies and economies based on his propaganda and i want to show how this is systemic and systematic the way he is treated by politicians and by justice around the world and why we continue to find ourselves in economic collapse all these years later and it's part of the political collapse first take a look at this picture this is rupert murdoch last weekend arrives in london and meets with rebecca brooks who was the editor of the news of the world until two thousand and three and when ask
coming up today on the big picture. we'll. bring you the latest in science and technology from. the future of coverage. welcome back to the for stacy herbert you know we were talking about the fraudulent berlusconi the economist magazine a cover story just recently called the biggest jerk on europe i believe was the headline but continue please well we're on the topic of media tycoons who have destroyed democracy certainly in italy and now it turns out destroyed the economy but i want to turn...
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monarchs defense on day one but saudi prince who's a big shareholder and of course the saudi arabia is a perfect example there is a country that's completely in the throes of a dictatorship a pernicious dictatorship portie the wealth and income gap is probably one of the highest in the world that's what the murdoch's aspire to they aspire to lords and service they speier to define right schlepped snobs the dictators well going back to the story about hedge funds ditching the shares and selling them to institutional investors institutional investors are also of course the passive funds of a pension fund so these once again all the risk all the toxic waste all of the fraud all of the bad stuff gets dumped on to passive investors us chunks whether we're you know taxpayers or peasants in these this oligarchic system we get dumped with the risk whatever you want it doesn't matter it's what happened there we saw the same thing with british petroleum there were other reasons why they weren't fully prosecuted for their goal logical whole cost is because they said oh well everyone owns b.p. in
monarchs defense on day one but saudi prince who's a big shareholder and of course the saudi arabia is a perfect example there is a country that's completely in the throes of a dictatorship a pernicious dictatorship portie the wealth and income gap is probably one of the highest in the world that's what the murdoch's aspire to they aspire to lords and service they speier to define right schlepped snobs the dictators well going back to the story about hedge funds ditching the shares and selling...
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that is a big policy and political decision. as you know, not one banking regulator in the history of the united states has ever had its funding to the political process. >> you agree congress should not be responsible for setting the budget for your agency? the neck of the congress should treat banking regulators alike cannot say the one that trusts watch out for consumers is going to be put through the political process and subject to lobbying. >> you did mention oversight in your statement in the distinguished element of maryland for whom i have great regard used the term illegal seven times. it's been used an additional five times since mr. cummings used it. in case you what kind needs is a form of oversight. these are illegal, why isn't eric holder sitting with unix anybody's done? why do we need your agency if they're already illegal? >> congressman, is the real question about whether there is an adequate investigation into -- >> would it be done with respect to attorney general holder and a 90 plus united states attorneys
that is a big policy and political decision. as you know, not one banking regulator in the history of the united states has ever had its funding to the political process. >> you agree congress should not be responsible for setting the budget for your agency? the neck of the congress should treat banking regulators alike cannot say the one that trusts watch out for consumers is going to be put through the political process and subject to lobbying. >> you did mention oversight in your...
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the big deal. that is where we are right now and what we need. >> maria, what is the political burden? because, ultimately, all of this is viewed through a political lens. the winners and the losers. >> absolutely. >> who holds the bag? what is the political burden? >> here is the reason i believe that mitchell mcconnell ended up offering his plan. he understands, as well as other republicans who are becoming very nervous about who is going to take the blame if we do go into default, they are understanding republicans will take the blame. what they have not understood up to now when you negotiate you have to put something that is your cow on the table. they haven't done nothing to put their sacred cows on the table. president obama and the democrats have offered up changes in medicare and social security. the sacred cows for american families and don't know that because they understand we are at a crossroads. republicans do not understand that. if we go into default, they will take the blame on thi
the big deal. that is where we are right now and what we need. >> maria, what is the political burden? because, ultimately, all of this is viewed through a political lens. the winners and the losers. >> absolutely. >> who holds the bag? what is the political burden? >> here is the reason i believe that mitchell mcconnell ended up offering his plan. he understands, as well as other republicans who are becoming very nervous about who is going to take the blame if we do go...